There are thousands of different cryptocurrencies, from Bitcoin and Ethereum to Doge coin and Tether. If you’re unfamiliar with cryptocurrency, this probably won’t make sense. Think carefully about all of your options when you decide on crypto to buy now. Here are the top 10 cryptocurrencies based on their market capitalization, which is the total value of all the currently circulating coins.
. Blockchain (BTC)
Market cap: Over $846 billion
Bitcoin (BTC) is the first cryptocurrency. It was made in 2009 by someone using the name Satoshi Nakamoto. As with most other cryptocurrencies, BTC is based on a blockchain, a ledger that keeps track of transactions across a network of thousands of computers. Because adding to the distributed ledgers requires solving a cryptographic puzzle called “proof of work,” fraudsters can’t steal Bitcoin.
As Bitcoin has become more well-known, its price has gone through the roof. In May 2016, it cost about $500 to buy a Bitcoin. On March 1, 2022, one Bitcoin was worth more than $44,000. That’s about 7,800% growth.
The minimum price of Dogecoin will be $0.0639936, per the technical analysis of values anticipated in 2022. The DOGE price might go as high as $0.069993 at any time. The anticipated average trade price is $0.0669933. ROI potential: 21%
. Ethereum (ETH)
Market cap: Over $361 billion
Ethereum is both a cryptocurrency and a blockchain platform. Programmers love it because there are so many ways to use it, like with “smart contracts” that run automatically and meet certain conditions and “non-fungible tokens” that are traded for money (NFTs).
A lot of growth has happened in Ethereum as well. From April 2016 to the beginning of March 2022, its price went from about $11 to over $3,000. This is an increase of more than 27,000%.
. Fasten (USDT)
Market cap: Over $79 billion
Tether is a stable coin, which is different from other cryptocurrency types. This means that fiat currencies back it, like the U.S. dollar and the Euro, and its value theoretically stays the same as one of those denominations. This means that, in theory, Tether’s value should be more stable than other cryptocurrencies. Investors wary of other coins’ extreme volatility tend to favour Tether.
. Binance Coin (BNB)
Market cap: Over $68 billion
The Binance Coin is a type of cryptocurrency that you can use to trade and pay fees on Binance, which is one of the biggest crypto exchanges in the world. Since its release in 2017, Binance Coin has become more than just a way to buy and sell on Binance’s exchange platform.
Now, it can buy and sell things, process payments, and even book travel. It can also be traded for other forms of cryptocurrency, like Bitcoin or Ethereum.
In 2017, BNB was worth only $0.10. By March 2022, its price had gone up to about $413, increasing by about 410,000%.
Market cap: Over $37 billion
Ripple is a digital technology and payment processing company. Some of the same people who started Ripple also started XRP. XRP may apply on Ripple’s network to help different exchange types of currency, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, one XRP was worth $0.006. As of March 2022, its price had gone up more than 12,600% to $0.80.
. Terra (LUNA)
Market cap: Over $34 billion
Terra is a blockchain-based payment platform for stablecoins that works by keeping a balance between two different types of cryptocurrency. Stablecoins backed by Terra, like TerraUSD, are tied to real money’s value. Their counterweight, Luna, runs the Terra platform and makes more Terra stablecoins.
Luna and Terra’s stablecoins work together based on supply and demand: When the price of a stablecoin goes up more than the value of the currency it is tied to, users are encouraged to burn their Luna to make more Terra stablecoin. When its value drops relative to its base currency, users are more likely to burn their Terra stablecoins to make more Luna. As more people use the Terra platforms, Luna’s value also increases.
From January 3, 2021, when it was worth $0.64, to the beginning of March 2022, when it was worth $92, the price of Luna has gone up more than 14,200%.
. Cardano (ADA)
Market cap: Over $33 billion
Cardano was a bit late to the crypto scene, but it is known for being one of the first to use proof-of-stake validation. This method speeds up transactions, uses less energy, and helps the environment by getting rid of the part of platforms like Bitcoin that involves solving problems.
Cardano is similar to Ethereum in letting intelligent contracts, and decentralized apps run. Its coin, ADA, is what makes this possible. Cardano’s ADA token has not grown as much as other major crypto coins. In 2017, one ADA was worth $0.02. The price was $0.99 as of March 1, 2022. The number has gone up by 4,850%.